In government accounting , the method used which records ...
In government accounting , the method used which records on the basis of financial entity with self balancing books instead of entity of propietorship is?
Virement
Fund accounting
Consolidated fund
Financial regulation
Correct answer is B
Fund accounting is an accounting system for recording resources whose use has been limited by the donor, grant authority, governing agency, or other individuals or organisations or by law. It emphasizes accountability rather than profitability, and is used by Nonprofit organizations and by governments. In this method, a fund consists of a self-balancing set of accounts and each are reported as either unrestricted, temporarily restricted or permanently restricted based on the provider-imposed restrictions.
Profit expressed in relation to cost of goods sold is ...
Public sector accounting is practiced in ...
A business is treated as being separated from owners. This statement is emphasized by ...
Shares that are offered to existing shareholders at a price is called ...
Unpresented cheques are cheques_________ ...
Opening capital ---10,800 Drawings----------- 2,500 Trade creditors ----2,560 Trade debtors -----...
In a system of incomplete records, the opening capital is determined by preparing ...